Cotton Falls Limit

March cotton futures have no daily limits during the delivery period, and they closed 4.09 cents weaker. May contracts were limited by the 4 cent allotted move, and the other front month cotton futures fell back 288 to 396 points. The weekly Export Sales data release showed 247,813 RBs sold on the week ending 2/18. That was more than double last week and up 5% yr/yr. New crop bookings were reported at 40,726 RBs bringing the total forward book to 1.156m RBs. USDA’s Daily Spot Quotations report showed 3,541 bales sold via the 2/25 report. USDA maintained the -4.89 cent basis but noted the average price was down to 84.8 cents. The Cotlook A index for 2/24 was 97.6 cents/lb, up another quarter cent. The week’s AWP for cotton is 73.13 cents/lb, but will be updated this afternoon. ICE certified stocks are still at 100,326 bales through 2/23.

Mar 21 Cotton closed at 88.24, down 409 points,
May 21 Cotton closed at 89.69, down 400 points
Jul 21 Cotton closed at 90.37, down 396 points
Dec 21 Cotton closed at 84.78, down 288 points

--- provided by Brugler Marketing & Management




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